Opposition spokesman says 2010 fiscal gap to greatly exceed gov’t estimates

Tweet
Comment

The main opposition party Fidesz projects a budget deficit of 5-7pc of GDP in 2010, although the party — if it takes office after general elections in the spring — wants to do its best to prevent the deficit from running away, Fidesz deputy chief Mihaly Varga said in a television programme late on Tuesday.

The Bajnai government targets a 3.8pc of GDP deficit for 2010.

Mr Varga, a former finance minister, said there was a “hole” of around HUF 1,000bn in the 2010 budget. In light of this danger, amendments are “very urgently” needed, he added.

Hungary needs an economic policy that can create new jobs, providing incentives for investments and allowing state debt to be repaid all at the same time, Mr Varga said.

Fidesz is in continuous consultations with the International Monetary Fund (IMF), Mr Varga said. The IMF asks the party’s opinion on economic policy, and Fidesz gives it answers, he added.

Comments

The All Hungary Media Group is firmly committed to freedom of expression and therefore applies a mostly "hands off" approach to comment moderation. Comments left by readers represent their own views and do not necessarily reflect the opinions or beliefs of the staff, editors or owner of the All Hungary Media Group, who nonetheless reserve the right to remove comments that are off-topic or which moderators consider to constitute "hate speech." Also note that in order to prevent spam we generally close entries off to comments several days after publication.

Comments are closed.